Hi Lynchy,
Most real estate agents in Canberra seem to charge around the 3.5% mark, so if it were only 2% you were looking at, that would be a bargain here. I only know of one real estate agent that charges 1.75% flat rate on all sales, and that is a relatively small real estate agency, so maybe that’s why.

By the way, the percentage of fees…[Read more]

1) What was the prime motivating event in your life that created a focus on the need to invest?

The fact that my parents worked each for 40 years and have nothing to show for it except a nice house. They live a pretty good lifestyle now, but wish that it was a more secure life. They are really worried about running out of money in the future.…[Read more]

Where is Balwyn? Which state?

So I don’t have to rely on Superannuation. The taxes are too high and keep rising!

Fudge111, from your post I’d say you have a lot to learn about money and investing. To say that someone with a family is silly not to be able to live on $70,000 is just plain naive. I really think it would be wise for you to go out and find someone who has a copy of the game Cashflow 101 and go and learn about the value of money. This might…[Read more]

Hi Kay,
I am guessing, but I assume that the website he meant was http://www.wiseinvestment.com.au.
Hope this helps,
Luckyone

Hi Robo,
The house you have found doesn’t quite meet the 11 second rule, but it’s not far off. To work it out you just need to divide the rent by 2 and multiply the result by 1000.

ie. 95 / 2 * 1000 = $47,500. This is the maximum price you should pay for this house according to the rule. But remember, the rule is just a guide. This house is…[Read more]

Hi Bill,
I know you have sent me some of your ads before, but just in case these are different could you please send me them too. My e-mail address is lsheppard@actewagl.net.au.
Thanks,
Luckyone

Hello All,
Just wanting to know how the rise in mortgage repayments is worked out. I have worked out for a mortgage of $150,000, repayments would go up $31.25, not the $24 stated in the article.

This is how I worked it out:-

$150,000 * 0.25% / 12 = $31.25.

Am I missing something?????

Hi Bill,
Thanks for your reply, glad to know I’m safe from a margin call. Anyway, back to work, another long night ahead .
Thanks,
Luckyone

Have you looked into getting a deposit bond to stop you from having to pay the deposit up front? Also, are you aware that since you are buying off the plan you can delay the payment of stamp duty for up to 12 months or until settlement (whichever is less). This applies in the ACT and I’m pretty sure it’s the same for NSW.

Hi,
This is really aimed at Bill. Do you happen to know what happens if you have a line of credit and prices drop? Can you get a margin call as with shares if the price drops significantly?
Thanks,
Luckyone

Geez, I thought that you were exaggerating about the land tax rates. Anyway, I looked at the QLD revenue site and you’re correct for this year too.

Anyway, it makes me wonder why anyone would want to invest in QLD then. I mean for a place with a land value of $300,000 to cost you $3,095 per year in land tax, is a huge amount to have to bear.…[Read more]

Hey Shaun,
What software do you use to calculate your return?
Thanks,
Luckyone

Hi Guys,
I think there will be a slight increase in rates to reduce spending before this Christmas which will then be reduced back down to current rates for the election. Slowly they will rise up for Christmas next year once the election is won.
Just my thoughts,
Luckyone

Yeah, the Gungahlin house prices have certainly jumped up recently. We actually bought in Amaroo six months ago not expecting much of an increase in the price (we thought it had really peaked there) and the place has already been valued at $50,000 more than what we paid without really doing anything (besides the obvious for a new place of adding…[Read more]

Hello,
I would love a copy of Property manager pro, could you please e-mail it to me at lsheppard@actewagl.net.au.
Many thanks,
Luckyone

Hi,
In reference to property managers for Gungahlin I can’t recommend you a good one, but I can tell you to avoid Independent out there. I have never been a landlord of a property through them, but I have been the tenant for about 3 years (up until the middle of last year). They would have to have one of the highest turnovers of property…[Read more]

Thanks everyone for your advice on accountants. I certainly need a good one to reduce my tax bill. E-tax gave me a bill of about $950 but I’m sure a decent accountant can lower that amount.

What’s happening this Saturday? I’m afraid I haven’t read anything on this forum about a meeting in Canberra. Can’t go anyway, unfortunately I’ll be in…[Read more]

quote:
Every contract I have signed with a PM lately includes a half weeks rent as the ‘re-letting’ fee. ie when the tenant signs another lease.

Is it me, or is it just in Canberra that this appears to be the norm now?

Cheers
Mel

Hey Mel,
I notice you are from Canberra. Do you have an accountant here that you can recommend at all. I…[Read more]